Buying into a Vacation Rental

[Jenny Gremillion]

We have a friend that owns a large beach front townhome that needs updating. Could double income or more if the updates are made.

He is approaching us asking if we want to buy into it (split in half of appraised value). He wants to let me run with it and renovate it and then I’d be the one to manage the VRBO listing. We’d split the profits and I’d get a percentage monthly to run the listing.

I’m curious if anyone has had any experience with this? Any advice or tips? Thanks.

[Jenny Gremillion]

@Aaron Wade to clarify- we will split rehab! Sorry. This is a friend of ours as well. I trust him. He’s open to any options. He bought the place for probably around $400k and it’s probably doubled in value. Makes sense what he’s trying to do. We love the area and want a beach house there. But don’t want to lose money either.